Machine Learning as a Service Market
Machine Learning as a Service Market Size, Share & Trends Analysis Report, By Application (Predictive Maintenance, Risk Analytics & Fraud Detection, Advertising & Marketing, Automated Network Management, and Others), By Verticals (Retail & Consumer Goods, IT & BFSI, Healthcare, Automotive, Manufacturing, and Others) and Forecast 2019-2025. Update Available - Forecast 2024-2030
The global machine learning as a service market is expected to witness a significant growth rate with the CAGR of 35% during the forecast period. Machine Learning is an application of computer science that offers computers an ability to learn and predict without being explicitly programmed. Technological advancement, the evolution of the Internet, innovation and rising demand for machine learning are some of the factors that contribute to the growth of the global machine learning as a service market. Machine learning has been highly useful to analyze, extract and interpret large chunks of data and has also simplified the tasks of data scientists. Additionally, the market has considerable demand for high-value predictions that can make decision making better and smart actions in real-time without human intervention.
Machine learning has also overcome the lesser extent availability of computing power with such a high amount of data. As a result, machine learning has endless use in such computations with highly precise results which is another important factor for the growth of machine learning as a service industry. However, data security concerns and lack of professional skills in the domain are some of the restraints that may affect the market growth. Besides, due to growing innovations and technological advancements in machine learning algorithms, various effective and significant security mechanisms are expected to boost machine learning technology.
Segmental Outlook
The global machine learning as a service market is segmented on the basis of application and verticals. Based on the application, the market is segmented into advertising and marketing, automated network management, predictive maintenance, risk analytics & fraud detection, and others. Further, on the basis of verticals, the market is segmented into BFSI, healthcare, IT & telecom, government & defense, and others.
Global Machine Learning as a Service Market Share by Verticals, 2018 (%)
Retail & Consumer Goods to Have a Significant Share in the Market
The retail industry is rapidly booming in digital space. Players such as Amazon and eBay started this revolution that resulted in huge challenges for the traditional retail business model, and hence, machine learning as a service massive potential for retailers and consumer goods industry. The players in the retail and consumer goods industry are adopting machine learning for driving improvements in customer service and operational efficiency.
BFSI & IT Segment is Estimated to Gain Traction During the Forecast Period
BFSI segment is expected to contribute significantly to the market growth during the forecast period. As data continues to gain more attention in the BFSI sector, the need for machine learning applications in the BFSI industry is growing well. Characteristics offered by machine learning such as fraud prevention, investment predictions, affordable processing power, digital assistants and economical storage is making it more appealing to be used in the BFSI industry.
Regional Outlook
Moreover, the market is geographically segmented into North America (the US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific) and Rest of the World (RoW). North America is expected to hold a significant share in the market owing to the well-established communication network in the region. Most of the machine learning as service market players are based in the US and are contributing significantly to the growth of the market.
Machine Learning as a Service Market Growth, by Region 2019-2025
Asia-Pacific is Estimated to Exhibit Considerable Growth in the Market
The machine learning as a service market is rapidly expanding in the Asia-Pacific and witnessing a significant growth specifically in the countries including China, India, and Japan. The growth is exhibited due to the due to rising investment, favorable government policies and growing awareness.
Market Players Outlook
Some of the players that contribute to the growth of the market include Amazon.com Inc., IBM Corp., Hewlett Packard Enterprise Co., SAS Institute Inc., Microsoft Corp. Google LLC, and others. These market players are contributing to the market by adopting various market approaches including product launch and approvals, merger and acquisition, partnerships and collaborations, and others for gaining a strong position in the market.
Recent Developments
- In November 2018, Amazon Web Services made Amazon Translate, Amazon Comprehend, and Amazon Transcribe part of US health insurance portability and accountability act of 1996 (HIPAA) eligible services. This enabled the company to leverage data insights and deliver better outcomes for providers and patients using machine learning.
- In April 2019, Microsoft Corp. developed a platform that uses machine teaching for helping deep reinforcement learning algorithms tackle real-world problems. Microsoft scientists and product developers have pioneered a complementary approach called machine teaching. This relies on people’s expertise to break a problem into easier tasks and give machine learning models important clues about how to find a solution faster.
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Machine learning as a service market. Based on the availability of data, information related to products and services, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. IBM Corp.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. Amazon Web Services, Inc.
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Hewlett Packard Enterprise Co.
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. Microsoft Corp.
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
3.3.5. SAS Institute Inc.
3.3.5.1. Overview
3.3.5.2. Financial Analysis
3.3.5.3. SWOT Analysis
3.3.5.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Machine Learning as a Service Market by Application
5.1.1. Advertising and Marketing
5.1.2. Automated Network Management
5.1.3. Risk Analytics & Fraud Detection
5.1.4. Predictive Maintenance
5.1.5. Others
5.2. Global Machine Learning as a Service Market by Verticals
5.2.1. Retail & Consumer Goods
5.2.2. IT & BFSI
5.2.3. Healthcare
5.2.4. Automotive
5.2.5. Manufacturing
5.2.6. Government & Defense
5.2.7. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Amazon Web Services, Inc.
7.2. AT&T Inc.
7.3. BIGML Inc.
7.4. Darktrace Ltd.
7.5. Fair Isaac Corp.
7.6. Google LLC
7.7. H2O.ai Inc.
7.8. Happiest Minds
7.9. Hewlett Packard Enterprise Co.
7.10. Huawei Technologies Co., Ltd.
7.11. IBM Corp.
7.12. Iflowsoft Solutions Inc.
7.13. Microsoft Corp.
7.14. PixelCrayons
7.15. PurePredictive Inc.
7.16. Quantiphi, Inc.
7.17. SAS Institute Inc.
7.18. Sift Science Inc.
7.19. Unibot Ltd.
7.20. Yottamine Analytics LLC
1. GLOBAL MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
2. GLOBAL MACHINE LEARNING AS A SERVICE IN ADVERTISING AND MARKETING MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
3. GLOBAL MACHINE LEARNING AS A SERVICE IN AUTOMATED NETWORK MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
4. GLOBAL MACHINE LEARNING AS A SERVICE IN RISK ANALYTICS AND FRAUD DETECTION MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
5. GLOBAL MACHINE LEARNING AS A SERVICE IN PREDICTIVE MAINTENANCE MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
6. GLOBAL MACHINE LEARNING AS A SERVICE IN OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
7. GLOBAL MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY VERTICALS, 2018-2025 ($ MILLION)
8. GLOBAL MACHINE LEARNING AS A SERVICE IN RETAIL & CONSUMER GOODS MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
9. GLOBAL MACHINE LEARNING AS A SERVICE IN IT & BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
10. GLOBAL MACHINE LEARNING AS A SERVICE IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
11. GLOBAL MACHINE LEARNING AS A SERVICE IN AUTOMOTIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
12. GLOBAL MACHINE LEARNING AS A SERVICE IN MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
13. GLOBAL MACHINE LEARNING AS A SERVICE IN GOVERNMENT & DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
14. GLOBAL MACHINE LEARNING AS A SERVICE IN OTHER VERTICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
15. GLOBAL MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2018-2025 ($ MILLION)
16. NORTH AMERICAN MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
17. NORTH AMERICAN MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
18. NORTH AMERICAN MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY VERTICALS, 2018-2025 ($ MILLION)
19. EUROPEAN MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
20. EUROPEAN MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
21. EUROPEAN MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY VERTICALS, 2018-2025 ($ MILLION)
22. ASIA-PACIFIC MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
23. ASIA-PACIFIC MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
24. ASIA-PACIFIC MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY VERTICALS, 2018-2025 ($ MILLION)
25. REST OF THE WORLD MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
26. REST OF THE WORLD MACHINE LEARNING AS A SERVICE MARKET RESEARCH AND ANALYSIS BY VERTICALS, 2018-2025 ($ MILLION)
1. GLOBAL MACHINE LEARNING AS A SERVICE MARKET SHARE BY APPLICATION, 2018 VS 2025 (%)
2. GLOBAL MACHINE LEARNING AS A SERVICE MARKET SHARE BY VERTICALS, 2018 VS 2025 (%)
3. GLOBAL MACHINE LEARNING AS A SERVICE MARKET SHARE BY GEOGRAPHY, 2018 VS 2025 (%)
4. US MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
5. CANADA MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
6. UK MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
7. FRANCE MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
8. GERMANY MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
9. ITALY MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
10. SPAIN MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
11. REST OF EUROPE MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
12. INDIA MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
13. CHINA MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
14. JAPAN MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
15. REST OF ASIA-PACIFIC MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
16. REST OF THE WORLD MACHINE LEARNING AS A SERVICE MARKET SIZE, 2018-2025 ($ MILLION)
